Automotive Industry Today

Electric Vehicle Aftermarket Size To Grow at 23.2% of CAGR by 2028

The increasing popularity of personalized EVs among individuals around the world represents one of the key factors contributing to the market growth
Published 22 August 2023

How big is the Electric Vehicle Aftermarket?

IMARC Group, a leading market research company, has recently releases report titled "Electric Vehicle Aftermarket: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" the global electric vehicle aftermarket is expected to exhibit a CAGR of 23.2% during 2023-2028.

What are electric vehicle aftermarket?

An electric vehicle aftermarket focuses on the maintenance, repair, and customization needs of electric vehicles (EVs) after the initial purchase. It comprises a wide range of offerings, such as spare parts, accessories, charging solutions, software updates, vehicle customization, and repair services. It assists in improving vehicular efficiency and reducing maintenance costs. As it aids in enhancing customer satisfaction, the demand for EV aftermarket is rising across the globe.      

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What are the growth prospects and trends in the Electric Vehicle Aftermarket Industry:

At present, the increasing popularity of personalized EVs among individuals around the world represents one of the key factors contributing to the market growth. Besides this, the rising demand for aftermarket products and services due to the increasing adoption of EVs across the globe is strengthening the growth of the market. In line with this, the growing preference for specialized components, such as batteries, electric drivetrain parts, and charging infrastructure, that are essential for the maintenance and repair of EVs is positively influencing the market. Apart from this, the rising adoption of software-based digital solutions, such as smart parking services, is offering lucrative growth opportunities to industry investors. Furthermore, the growing demand for EVs due to the increasing sustainability and environmental concerns among the masses around the world is offering a positive market outlook. 

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Breakup by Replacement Part:

  • Tire
  • Battery
  • Brake Parts
  • Filters
  • Body Parts
  • Lighting and Electronic Components
  • Wheels
  • Turbochargers
  • Others

Breakup by Propulsion Type:

  • Battery Electric Vehicles
  • Hybrid Electric Vehicles
  • Fuel Cell Electric Vehicles
  • Plug-in Hybrid Electric Vehicles

Breakup by Vehicle Type:

  • Passenger Cars
  • Commercial Vehicles

Breakup by Certification:

  • Genuine Parts
  • Certified Parts
  • Uncertified Parts

Breakup by Distribution Channel:

  • Authorized Service Centers (OEMs)
  • Premium Multi-brand Service Centers
  • Digital Aggregators
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter's Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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